Postwar market for State and local government securities / by Roland I. Robinson.

Format:

Book

Author/Creator:

Robinson, Roland I., author.

Contributor:

National Bureau of Economic Research.

Series:

Princeton legacy library.

Studies in capital formation and financing ; 5.

Princeton Legacy Library

Studies in Capital Formation and Financing ; 5

Language:

English

Subjects (All):

Bonds--United States.

Bonds.

Debts, Public--United States.

Debts, Public.

Physical Description:

1 online resource (252 p.)

Place of Publication:

Princeton, New Jersey : Princeton University Press, 1960.

Language Note:

In English.

Summary:

Most of the schools built in the United States, as well as many public facilities, must be financed by borrowing in the capital markets. Until recently, when strongly competing capital demands have interfered, the privilege of tax exemption has made state and local government borrowing relatively easy. Dr. Robinson has made an extensive study of the changing market value of tax exemption and of its effect on the yield of various securities. His analysis, which shows that the lessened value of tax exemption may well encourage administrative and financial reform in state and local governments, is of importance to finance authorities, institutional investors, and security analysts.Originally published in 1960.The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Contents:

Frontmatter

Relation of The Directors to The Work and Publications of The National Bureau of Economic Research

Foreword / Goldsmith, Raymond W.

Preface

Contents

Tables

Charts

Summary and Conclusions

Chapter 1. Problems of the Market for State and Local Government Securities

Chapter 2. The Demand for Funds by State and Local Governments

Chapter 3. The Supply of Funds by Investors in State and Local Government Obligations

Chapter 4. The Marketing of New State and Local Government Issues

Chapter 5. The Secondary Market for State and Local Government Obligations

Chapter 6. Tax-Exempt Interest as a Cost to Borrowing Governments and as a Yield to Investors

Chapter 7. The Market for Tax-Exempt Revenue Obligations

Appendix A. Statistics of State and Local Government Debt, 1945-1956

Appendix B. Results of Conventional (Nonaccrual) Method of Computing Interest Cost Which Prevails in Competitive Bidding for State and Local Government Issues

Index

Notes:

Includes index.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 08. Jul 2019)

Description based on print version record.

ISBN:

9780691652429

0691652422

9781400879748

1400879744

OCLC:

927624554